OR “BUY NOW OR BE FOREVER PRICED OUT”

Mass psychology is one reason you see such huge swings in the stock market, no one wants to be on the sidelines during a run up and be called a fool, and no one wants to be the last guy holding the bag of a worthless stock.

Mass psychology? What the heck are you talking about?

If the house fits and people buy them then there must be demand for them. Nonsense about small lots, if the setbacks are complied with. What’s the diff?

Just aesthetics and class

The diff is that these abortions destroy properities around them. You may not agree, but I enjoy being able to look out a window and see something else besides HardiPlank.

I think the market may be running low on rich morons who are stupid enough to pay a million plus for a poorly constructed house on a postage-stamp lot, with a view of a neighbor’s wall.

Every one that goes up means one less affordable house available for folks with limited funds and a bit of common sense.

Of course, this goes double for the majority of the remainder of the stock out there right now: over-priced flips with granite counter tops where the buyers over-paid and jammed too much tacky, expensive finishings in, and now need to double their purchase price to make any profit. Hopefully there aren’t too many suckers too inept to look at price histories or buy into the NAR mantra remaining.

Someday a real rain will come and wash this quick-buck scum off the streets.

Hopefully sooner rather than later for the sake of the neighborhoods.

If the house fits and people buy them then there must be demand for them. Nonsense about small lots, if the setbacks are complied with. What’s the diff?

The lots in Seattle were not designed for these monster-box houses. They are too small. These belong on 10,000 square foot lots minimum.

I have no problem with old, small, outdated houses being razed for new construction in the city. The land is to valuable for a 1200 sq. ft. 90 year old house if I can fit a 2800 sq. ft. house with modern amenities. Not every house in Seattle is a quaint craftsman but a lot of cheap housing from the 10s,20’s and 30s…

I actually wish the developers would keep their McCraftsmans off the tiny lots in-city, as it really screws up nieghborhood dynamic. Go to Redfin and look at new construction – 20% or there abouts of new houses are million dollar McCraftsmans stuffed shoulder to shoulder on short plats after raising perfectly good homes.

We actually do have pretty decent incomes in Seattle, however. The Census Bureau’s Community Survey states Seattle is 6th in 2003. Still, it doesn’t mean housing hasn’t become unaffordable, even on those incomes.

If the cause for the Seattle housing boom was location, location, location, then is that why THE ENTIRE NATION has experienced the highest rate of housing appreciation ON RECORD?

Maybe you’re right, and the entire US (and Britain, and Australia) are the best places to live in the world.

Then again, maybe the lowest interest rates ON RECORD (there’s that phrase again) and the loosest lending standards since the great depression (soon to be known as “Great Depression I”) might have something to do with the “Seattle” housing boom.

Small factor????? What flavor of Kool-Aid did you drink?

Did you notice that the drop in interest rates occured at the exact same time that you cite a sterling star real estate market? Coincidence? I think not!

Hahahahaha [/Pee-wee Herman chuckle]

Buy now or get priced out forever!!!

Delicious…

Have you ever driven through Maple Valley or Snoqualmie Ridge? Don’t see too many builders running up against the ‘land shortage’ problem you tout.

I don’t know who you’re addressing with that comment, since I definitely didn’t say that easy money was the “entire” factor. What I said was that easy money + mass psychology were the two “biggest” factors.

Yes, we live in a desirable area. Yes, the local economy is doing fairly well. If home appreciation had been ~10%, I would accept those as the primary reasons. However, neither of those factors explains the runaway appreciation of 2003-2006.

The real estate market will continue to remain strong, and the more pessimists think the opposite, the more they will be left in the cold.

The GMA is a fantastic reason to live in the great NW, and another reason NOT to purchase a McMansion… focusing more on condominiums and townhomes in much more desireable locations.

After all, even now, the old adage in real estate is this:

LOCATION, LOCATION, LOCATION!